Bulls scamper back, Nifty above 8200; Auto, IT in focus

The Indian markets were not only witnessing handsome recovery but also closed on a higher mark. The indices like IT and Auto outperformed and pulled up the benchmarks. The Nifty surged to close 68 points up at 8238 level and the Sensex was up by 241 points at 26866 level. Both the indices closed on a positive note, up around 0.84-0.91 per cent respectively.

The advance-decline ratio was on the positive side in the closing session. On the NSE, 1380 shares closed in green, while 1195 shares ended the day in red.

Top 5 Nifty Gainers: Tata Motors closed the day as the top gainer on the NSE, up by 3.8%. It is followed by Tata Steel, Ambuja Cement, Tata Motors (DVR) and Infy, which were the others that closed the day on a positive note.

Top 5 Nifty Losers: Axis Bank was the top loser, down by 0.8%, followed by Asian Paints, Eicher Motors, ITC and Sun Pharma.

12 out of 13 sectors saw good amount of buying towards the closing session. Auto and IT were the top gainers for the day, up by 287 points and 226 points respectively. It is followed by the Capital Goods and Metals indices, which were up by 180 points and 117 points respectively. Also Bankex, Mid-Caps and Small-Caps saw a surge around 40 points each. Only FMCG closed nominally down.

On the Asian front, The Nikkei ended the day up by 365 points, followed by the Hang Seng, which closed up by 340 points. The Taiwan and KOSPI too ended on a positive note.

Buzzers: Hindalco.  From last few sessions, the stock has seen heavy volatile trade and it has recovered from the lower level of around Rs 100. In today's session scrip broke its major hurdle, which was at Rs 120. Going ahead if stock sustains above this level, it may see Rs 125 in the next trading session.

The Nifty Future traded as per our expectation and closed above 8200 level, which is a positive indicator for tomorrow’s opening buzz.